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Which trends are driving the growth of the smart cities industry?
Smart cities market was valued at USD 457.63 billion in 2021, and is expected to reach USD 1,291.75 billion by 2029, exhibiting a CAGR of 13.85 % during the forecast period (2022-2029)

Smart Cities Market Overview:

The goal of this study is to give a comprehensive assessment of the Smart Cities market by segments and geography. The paper goes into great detail on the major variables impacting the growth of the Smart Cities market. The report also provides a thorough examination of the market's value chain.

Market Scope:

To get the final quantitative and qualitative data, all possible factors influencing the markets included in this research study have been considered, thoroughly analyzed, confirmed by primary research, and assessed. The market size for top-level markets and sub-segments is assessed, and the influence of inflation, economic crashes, regulatory & policy changes, and other variables is accounted for in market forecasting. This data is combined with detailed inputs and analysis from the firms and presented in this report.

To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The report's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). The percentage splits, market shares, and segment breakdowns are calculated using weights allocated to each segment based on their utilization rate and average sale price. The percentage adoption or usage of the given market Size in the corresponding area or nation is used to calculate the country-wise splits of the overall market and its sub-segments.

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Drivers | Segmentation:

by Application

• Smart Building
• Smart Transportation
• Smart Utilities
• Smart Governance
• Smart Healthcare
• Environmental Solution

by Smart Building

• By Component
o Solutions
 Building Infrastructure management
 Safety and Security Management
 Energy Management
 Network Management
 Integrated Workplace Management System
o Services
 Consulting
 Deployment and Integration
 Infrastructure Monitoring and Management

By Type

o Residential
o Commercial
o Industrial

 

Key Players:

Primary and secondary research is used to identify market leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing managers, while secondary research included an examination of the main manufacturers' quarterly and financial performance. Secondary sources are used to produce worldwide market percentage splits, market shares, growth rates, and breakdowns, which are then checked using primary data.

The major players covered in the Smart Cities market report are

• Cisco Systems, Inc.(US)
• Verizon(US)
• Microsoft Corporation(US)
• Oracle Corporation(US)
• General Electric(US)
• Honeywell International Inc.(US)
• International Business Machines Corporation(US)
• Itron Inc.(US)
• KAPSCH Group(Austria)
• Huawei Technologies Co., Ltd.(China)
• Schneider Electric SE (France)
• Ericsson (Sweden)
• Osram Gmbh (Germany)
• AGT International (Germany)
• SAP SE(Germany)
• Siemens AG(Germany)
• Vodafone Group plc(UK)
• Telensa (UK)
• AVEVA Group plc. (UK)
• ABB Limited (Switzerland)

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Regional Analysis:

Global, North America, Europe, Asia-Pacific, the Middle East, Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.

COVID-19 Impact Analysis on Smart Cities Market:

The COVID-19 pandemic has impacted industries such as aerospace and military, agriculture, autos, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among others. COVID-19 has had an influence on the Smart Cities market as a whole, as well as the growth rate in 2019-2020, as the impact of COVID-19 has spread. Our most recent questions, views, and market information are vital to the Smart Cities industry's firms and associations.

Key Questions Answered in the Smart Cities Market Report are:

  • Which segment grabbed the largest share in the Smart Cities market?
  • What was the competitive scenario of the Smart Cities market in 2021?
  • Which are the key factors responsible for the Smart Cities market growth?
  • Which region held the maximum share in the Smart Cities market in 2021?

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